ODDITY Tech (NASDAQ:ODD) Cut to “Strong Sell” at Zacks Research

ODDITY Tech (NASDAQ:ODD) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Barclays reduced their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Truist Financial decreased their target price on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group cut shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, ODDITY Tech presently has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Performance

NASDAQ ODD opened at $15.13 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $77.83. The business has a 50 day simple moving average of $13.02 and a two-hundred day simple moving average of $21.85. The stock has a market capitalization of $871.19 million, a PE ratio of 19.15 and a beta of 2.47.

ODDITY Tech (NASDAQ:ODD) last posted its earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The firm had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm’s revenue was down 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, research analysts predict that ODDITY Tech will post -0.46 EPS for the current fiscal year.

Insider Transactions at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 9,603 shares of ODDITY Tech stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $13.44, for a total transaction of $129,064.32. Following the transaction, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of ODDITY Tech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc raised its position in shares of ODDITY Tech by 7.7% in the 3rd quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock worth $413,000 after acquiring an additional 476 shares in the last quarter. Wexford Capital LP purchased a new position in ODDITY Tech in the third quarter valued at about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after purchasing an additional 651 shares during the last quarter. USS Investment Management Ltd raised its holdings in ODDITY Tech by 5.3% in the fourth quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock worth $552,000 after purchasing an additional 695 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in ODDITY Tech by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock worth $1,749,000 after purchasing an additional 870 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.